Shares of some companies reporting quarterly results next week, including Amazon and T-Mobile , could get a post-earnings bump. These names could be a bright spot in the broader market after a rough week. Disappointing reports from a couple megacap tech names earlier this week dragged down sentiment, leading the S & P 500 and Nasdaq Composite to their biggest one-day loss in more than a year.
Still, the earnings season had started off on a positive note. As of July 19, the blended second-quarter earnings growth rate for the S & P 500 was 9.7%, which is higher than the 8.
9% expected at the end of the quarter and would mark the index's highest year-over-year earnings growth rate since the fourth quarter of 2021 if trend persists, according to FactSet. CNBC Pro screened FactSet for companies in the broad-market index that are reporting quarterly results next week and could see potential upside. These companies could also see a post-earnings boost in their stock prices based on their historical patterns.
The names we found meet the following criteria: Earnings per share estimates are up 10% or more in the past three and six months Have buy ratings from at least 55% of analysts covering the stock Have an upside to analysts' average price target of 15% or more Take a look at the full list below: Analysts have lifted their earnings estimates on Amazon by a whopping 190% and 397% in the past three and six months, respectively. The consensus price target on the e-commerce giant sugges.